Near Infrared Absorbing Materials Market by IR Range (1000 nm above, 700-1000 nm), Material Type (Inorganic, Organic), End-use - Global Forecast 2024-2030

Near Infrared Absorbing Materials Market by IR Range (1000 nm above, 700-1000 nm), Material Type (Inorganic, Organic), End-use - Global Forecast 2024-2030


The Near Infrared Absorbing Materials Market size was estimated at USD 309.50 million in 2023 and expected to reach USD 332.06 million in 2024, at a CAGR 7.74% to reach USD 521.78 million by 2030.

Near Infrared (NIR) Absorbing Materials are a class of materials that possess the ability to selectively absorb and reflect electromagnetic radiation in the near-infrared wavelength range, which typically spans from 700 nanometers (nm) to 2500 nm. These materials exhibit unique optical properties due to their intrinsic molecular structure or through the incorporation of specific chemical compounds, such as organic dyes, inorganic nanoparticles, or metal complexes. NIR-absorbing materials have garnered considerable awareness in recent years owing to their broad range of potential applications across various industries, including telecommunications, solar energy harvesting, optical sensors, imaging technologies, and thermal management systems. The increasing demand for remote sensing and imaging applications is one primary growth driver for the market. The growing integration of near-infrared absorbing materials in security & surveillance systems and emerging application across oximeters and non-invasive glucose meters contributes significantly to the NIR absorbing materials market's development. However, the high cost associated with producing and processing these materials limits their widespread adoption. Additionally, there is a challenge of limited wavelength range associated with near-infrared absorbing materials.

Moreover, regulatory norms regarding hazardous materials used in producing some NIR absorbers might restrict their usage in particular applications. On the other hand, continuous advancements in near-infrared absorbing materials are expected to drive the NIR absorbing materials further. Another potential opportunity for the market lies in the growing potential of solar panels to improve energy efficiency.

Regional Insights

In the Americas region, the United States and Canada are witnessing a growing demand for near-infrared absorbing materials in sectors, such as packaging, electronics, automotive, and textile industries. Government support and regulations promoting sustainable practices in industries such as construction or transportation sectors; investments made by private entities into funding research projects aimed at developing new NIR absorbing technologies also contribute significantly towards fuelling market growth within this region. The near-infrared (NIR) absorbing materials market in the Asia-Pacific (APAC) region has witnessed significant growth in recent years owing to increasing demand for advanced materials, rapid industrialization, growing investment in research & development, and key market players in the region. China is one of the leading countries for near-infrared absorbing materials due to its strong industrial base and robust growth in sectors, including electronics, defense, and renewable energy. India is emerging as another critical country for NIR absorbing materials with its rapidly growing economy and increasing investment in infrastructure projects. Southeast Asia countries, including the Philippines, Malaysia, and Indonesia are also experiencing growth due to expanding industrial sectors coupled with government initiatives to promote investment in R&D. These countries are focusing on developing their domestic capabilities to produce advanced materials that cater to global demands, creating a favorable environment for the growth of the NIR absorbing materials market. In the EMEA region, EU countries invest heavily in research and development of near-infrared absorbing materials. As EU countries aim to reduce their carbon footprint and improve energy efficiency standards, these advanced materials provide a viable solution by refining solar panel designs and enhancing thermal insulation systems.

Moreover, developments in defense applications have increased demand for thermographic imaging systems with greater accuracy and sensitivity; here, NIR-absorbing materials play an essential role. The Middle East & Africa region demonstrates potential growth opportunities due to increasing urbanization and industrialization. Demand from solar cell manufacturers is anticipated to drive the growth of near-infrared absorbing materials in this region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Near Infrared Absorbing Materials Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing demand for remote sensing and imaging applications
Growing integration of near infrared absorbing materials in security & surveillance systems
Emerging application across oximeters and non-invasive glucose meters

Market Restraints

High cost of near infrared absorbing materials

Market Opportunities

Continuous advancements in near infrared absorbing materials
Growing potential across solar panels to improve energy efficiency

Market Challenges

Limited wavelength range associated with near infrared absorbing materials

Market Segmentation Analysis

IR Range: Expanding usage of Near-infrared (NIR) absorbing materials range above 1000 nm for biomedical imaging
Material Type: Rising application of organic NIR absorbing materials in optical communications systems
End-use: Increasing application from electronics & telecommunications industry to improve signal transmission

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Near Infrared Absorbing Materials Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Near Infrared Absorbing Materials Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

DIC’s Near-Infrared Fluorescent Dye Adopted for Use in MIT-Developed BrightMarker Embedded Invisible Fluorescent Tags for Object Tracking

DIC Corporation's near-infrared (NIR) fluorescent dye and polymer compounding have been selected by MIT researchers for use in BrightMarkers. This technology embeds invisible tags into physical objects to enhance motion tracking, virtual reality (VR), and object detection.

trinamiX to present the latest near-infrared spectroscopy and biometric authentication technologies at CIOE 2023

trinamiX GmbH,v introducing a groundbreaking mobile Near-Infrared Spectroscopy Solution at the China International Optoelectronic Exposition (CIOE) in Shenzhen, China. This solution identifies plastic and textiles and provides valuable insights into animal feed nutrition. Finally, trinamiX is proud to unveil a sensor module that employs NIR spectroscopy and advanced algorithms to measure individual biomarkers.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Near Infrared Absorbing Materials Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Near Infrared Absorbing Materials Market, highlighting leading vendors and their innovative profiles. These include AAT Bioquest, Inc., Alfa Chemistry, BASF SE, Biotium, Inc., Crysta-Lyn Chemical Company, DIC Corporation, Eastman Kodak Company, Epolin, LLC by Chroma Color Corporation, H.W. Sands Corp., Heraeus Quarzglas GmbH & Co. KG, Keeling & Walker Limited, LI-COR, Inc., Luminochem Kft, Merck KGaA, Nanophase Technologies Corporation, Nippon Shokubai Co., Ltd., Otto Chemie Pvt. Ltd., QCR Solutions Corp, Qingdao Topwell Chemical Materials Co., Ltd., Resonac Holdings Corporation, Sumitomo Metal Mining Co., Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co., Ltd., and Yamada Chemical Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Near Infrared Absorbing Materials Market to forecast the revenues and analyze trends in each of the following sub-markets:

IR Range
1000 nm above
700-1000 nm
Material Type
Inorganic
Organic
End-use
Defense & Security
Electronics & Telecommunications
Industrial
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year


1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Increasing demand for remote sensing and imaging applications
5.1.1.2. Growing integration of near infrared absorbing materials in security & surveillance systems
5.1.1.3. Emerging application across oximeters and non-invasive glucose meters
5.1.2. Restraints
5.1.2.1. High cost of near infrared absorbing materials
5.1.3. Opportunities
5.1.3.1. Continuous advancements in near infrared absorbing materials
5.1.3.2. Growing potential across solar panels to improve energy efficiency
5.1.4. Challenges
5.1.4.1. Limited wavelength range associated with near infrared absorbing materials
5.2. Market Segmentation Analysis
5.2.1. IR Range: Expanding usage of Near-infrared (NIR) absorbing materials range above 1000 nm for biomedical imaging
5.2.2. Material Type: Rising application of organic NIR absorbing materials in optical communications systems
5.2.3. End-use: Increasing application from electronics & telecommunications industry to improve signal transmission
5.3. Market Disruption Analysis
5.4. Porter’s Five Forces Analysis
5.4.1. Threat of New Entrants
5.4.2. Threat of Substitutes
5.4.3. Bargaining Power of Customers
5.4.4. Bargaining Power of Suppliers
5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis
6. Near Infrared Absorbing Materials Market, by IR Range
6.1. Introduction
6.2. 1000 nm above
6.3. 700-1000 nm
7. Near Infrared Absorbing Materials Market, by Material Type
7.1. Introduction
7.2. Inorganic
7.3. Organic
8. Near Infrared Absorbing Materials Market, by End-use
8.1. Introduction
8.2. Defense & Security
8.3. Electronics & Telecommunications
8.4. Industrial
9. Americas Near Infrared Absorbing Materials Market
9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States
10. Asia-Pacific Near Infrared Absorbing Materials Market
10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam
11. Europe, Middle East & Africa Near Infrared Absorbing Materials Market
11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom
12. Competitive Landscape
12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
12.3.1. DIC’s Near-Infrared Fluorescent Dye Adopted for Use in MIT-Developed BrightMarker Embedded Invisible Fluorescent Tags for Object Tracking
12.3.2. trinamiX to present the latest near-infrared spectroscopy and biometric authentication technologies at CIOE 2023
12.4. Strategy Analysis & Recommendation
13. Competitive Portfolio
13.1. Key Company Profiles
13.2. Key Product Portfolio

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